Uttar Pradesh has emerged as the top investment destination and has received 98 investment proposals worth Rs 13,408.19 crore in the manufacturing sector during the past three-and-a-half years, an official statement said on Thursday. "Big industrialists of the country and abroad are investing in infrastructure, food processing, textile, electronic manufacturing, real estate, power and manufacturing sectors in UP in a big way.
"However, of all these sectors, manufacturing is the most preferred among them and is booming," officials said in the statement.
The receipt of 98 investment proposals worth Rs 13,408.19 crore received in the manufacturing sector during the past three-and-a-half years bears testimony to this, they said.
The manufacturing sector got the required boost after Chief Minister Yogi Adityanath brought some policy changes to create a favourable environment for investments in the state, the statement added.
Quoting the statistics released by the Department of Industrial Development, the officials said investment proposals in the manufacturing sector include 10 proposals worth Rs 4,250 crore from foreign investors as well as 88 proposals from domestic companies to set up large manufacturing units in the state.
This can provide employment to over 22,000 persons.
The Yogi government has provided land to 66 industrialists out of 88 for establishing their manufacturing units.
Most of these industrialists have completed the construction of their units and started production as well. Apart from this, 26 major industrialists are moving ahead with their plans to set up firms, the statement said.
According to officials, Covestro IP is setting up a plastic manufacturing unit in Gautam Buddh Nagar (Noida) at the cost of Rs 800 crore.
Similarly, UltraTech is setting up a cement factory at Prayagraj at a cost of Rs 600 crore, and Sparsh Industries Private Ltd and Rimjhim Ispat have invested Rs 600 crore and Rs 550 crore, respectively, in Kanpur Dehat.
Furthermore, DCM Shriram is setting up a sugar mill in Hardoi at the cost of Rs 361 crore. Kent RO Systems has invested Rs 300 crore in Gautam Buddh Nagar, whereas PTC Industries Ltd has invested Rs 205 crore in Lucknow, according to the statement.
Similarly, MM Forgings Pvt Ltd has invested Rs 150 crore in Barabanki and Password Papers has invested Rs 351 crore in Meerut. Silverstone is setting up a paper mill in Muzaffarnagar at a cost of Rs 180 crore.
All these companies have also started production. Besides, Kanodia Group is investing Rs 1,200 crore in Amethi and JK Cement Ltd Rs 650 crore in Aligarh to set up a cement factory, the officials added.
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